ARTICLES ABOUT SHARE PRICE BY DATE - PAGE 5

MUMBAI: The surge in shares of Mangalore Chemicals and Fertilisers (MCF) in the past two days has left many on Dalal Street confused. The jump in the share price came a few days after Saroj Poddar-led Adventz Group and Deepak Fertilisers, which are locked in a battle to takeover MCF, revised their offer to launch the open offer. On Friday, Deepak Fertilisers revised their offer price to buy shares of minority shareholders at Rs 93.60 per share from Rs 63. Adventz Group, which is acting in concert with MCF promoter Vijay Mallya, revised from Rs 68.55 to Rs 81.60.

With an 80% share of the fast-growing e-commerce market in the world's fastest-growing economy with the world's largest population, Alibaba is worth serious money. That its share price rose 40% after listing last Friday on New York Stock Exchange shows that the company and its underwriters underestimated that worth. Not that taking in more than $22 billion — the underwriters are exercising the option to sell more shares, after the phenomenal opening — in the world's largest-ever initial public offering is a poor job. But the fact remains that no one seems to have hit upon the magic formula to arrive at the right issue price that would mop up the maximum possible amount for the company while still leaving an attractive tidbit on the table for the investor.

NEW DELHI: The government kicked off the big-bang disinvestment programme it announced in the budget on Wednesday with the cabinet committee on economic affairs (CCEA) clearing stake sales in Coal India , ONGC and hydropower utility NHPC. At current prices, disinvestment in these companies is expected to meet budget target of Rs 43,425 crore. The first is likely to be a 5 per cent sale in steel maker SAIL that is expected to fetch Rs 1,700 crore. CCEA cleared a 5 per cent stake sale in ONGC that, at current prices, will fetch more than Rs 19,000 crore.

By Mitesh Thacker After making record highs of 8141, the Nifty consolidated at higher levels last week. The sustained weekly gap-up closing indicates an extension of the current bull run. Immediate support for the Nifty is placed around 8048 / 8000 levels, which are its swing lows / psychological levels, followed by 7968 (weekly gap). The Nifty holds an important support at 7968 levels. Till it continues to hold above these levels, the trend is likely to remain sideways to positive, whereas on the upside, buying strength will emerge in the market above 8130 levels on a sustained basis and can see more momentum towards 8200 - 8220 levels.

MUMBAI: Shares of Jaiprakash Associates ended the day with nearly 18 per cent loss after promoter entity Jaypee Infra Ventures sold 1.3 crore shares in the company. Stock of the company nosedived 17.60 per cent to settle at Rs 37.70 on the BSE . In intra-day session, it slumped 19.56 per cent to Rs 36.80. At the NSE , the scrip fell sharply by 17.40 per cent to Rs 37.75. Following the decline in the stock the company's market valuation dipped Rs 981.64 crore to Rs 9,170.36 crore.

NEW DELHI: Scotching speculation suggesting that its promoters are diluting stake which resulted in nearly 19 per cent dip in its share prices, Jaiprakash Associates today said "small share holding" disposed off by a promoter company was to meet needs of funds including for social cause. "It is understood that rumours are being planted in the market by the persons with vested interests suggesting that the promoters are selling their share holding in the company. Such stories seem to have lead to a sharp drop in the share price...," the company said in a filing to the BSE . Shares of the company slumped 18.47 during late afternoon trade on the bourses after a promoter entity Jaypee Infra Ventures sold a large number of shares in the company earlier in the day in the bourses through open markets.

MUMBAI: Recently, some influential shareholders of Infosys , including former chief financial officers TV Mohandas Pai and V Balakrishnan, wrote to the company's board to immediately consider a buyback of shares on the ground that there is a valuation disconnect between it and peers. In theory, it made a lot of sense for companies to utilise idle cash for this purpose. But do share buybacks always create value? A study of the performance of shares of companies, which have done buybacks after 2013, belies this theory.

MUMBAI: Goldman Sachs has upgraded oil marketing companies such as IOC , HPCL and BPCL which have surged up to 10 per cent in the last two trading sessions on falling global crude prices. The US-based brokerage house also expects almost no losses on diesel sales after the scheduled September price increase, and sees large gains in margins. It has put out a 'Buy' call on oil marketing companies (OMCs) and believes that they have strategic marketing assets at reasonable valuations.

By Sriram Ramakrishnan MUMBAI: In June this year, Infosys made history by announcing an outsider as CEO. Traditionally, Infosys CEOs have always been from the promoter group. NR Narayana Murthy, the founder, broke with tradition this year in a bold move to rejuvenate the firm's fortunes after a series of lacklustre performances. Some Infosys shareholders and former employees are now hoping that the company will go the extra mile and break with tradition for the second time.

NEW DELHI: After a volatile week, the 50-share Nifty index is expected to consolidate for some more time in the broader range before witnessing a breakout for the next 200-300 points move in the direction of the breakout, said Mitesh Thacker of miteshthacker.com. The overall movement of the index is currently in the broader range of 7900-7400 levels. With Friday's fall, the Nifty has now closed below its short term averages. "Going forward, the next immediate resistance is placed around 7600 -- 7580 range.